NOT FORDISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
TORONTO, Canada (July13, 2015) Mega Uranium Ltd. (TSX: MGA) announces the closing today of thefinal tranche of its previously announced non-brokered privateplacement, pursuant to which Mega raised additional gross proceeds of$207,000 from the issuance and sale of 2,300,000 units, at a price of $0.09 perunit.
Each unit was comprised of one common share andone-half of one common share purchase warrant of Mega. Each whole warrantentitles the holder to purchase one common share of the company, at a price of$0.14 per share, until expiry on January 13, 2017.
A director of Mega purchased an aggregate of300,000 units, representing approximately 13% of the total number of units soldtoday.
Mega paid cash finders' fees totaling $5,400 to athird party who assisted the company in respect of today's tranche.
The proceeds of the private placement will be usedfor working capital purposes.
This news release does not constitute an offer tosell or a solicitation of an offer to buy any of the securities in the UnitedStates. The securities have not been and will not be registered under theUnited States Securities Act of 1933, as amended (the "U.S. Securities Act") orany state securities laws and may not be offered or sold within the UnitedStates or to U.S. Persons (as such term is defined in Regulation S under theU.S. Securities Act) unless registered under the U.S. Securities Act andapplicable state securities laws or an exemption from such registration isavailable.
ABOUTMEGA URANIUMMega Uranium Ltd. is a Toronto-based mineralresources company with a focus on uranium properties in Australia and Canada. Furtherinformation on Mega can be found on the company's website at www.megauranium.com.
Forfurther information please contact:
Mega Uranium Ltd.Richard PatricioChief Executive Officer and PresidentT: (416) 643-7630info@megauranium.comwww.megauranium.com